What's Happening?
Broadfield, a UK law firm, has announced the opening of its first US office in New York City. This expansion follows a partnership with SHP Legal Services, a professional services company, and the London-based law firm BDB Pitmans. The firm aims to attract international businesses seeking affordable legal representation in the US, leveraging a business model that reduces costs through back-office management and technology services provided by SHP. The New York office will start with five US partners, including Michael Volpe, a labor and employment lawyer from Venable. Broadfield's approach is designed to offer high-quality legal services at lower rates compared to traditional global law firms.
AD
Why It's Important?
Broadfield's entry into the US market represents a significant shift in the legal industry, which is increasingly exploring alternative business structures. By offering competitive rates and efficient service delivery, Broadfield could disrupt traditional law firm models, particularly in a market where clients are demanding innovative solutions to manage rising costs. This move could benefit businesses looking for cost-effective legal services, potentially influencing other firms to adopt similar models. The firm's strategy aligns with recent regulatory changes in states like Utah and Arizona, which have relaxed restrictions on law firm ownership and fee-sharing.
What's Next?
Broadfield plans to expand its presence beyond New York, with potential offices on the West Coast, Chicago, Houston, and Florida. The firm will continue to build its team, focusing on corporate transnational practices, commercial litigation, and labor and employment. It aims to connect with private equity, hedge fund, and tax lawyers within its network and through SHP Legal Services for new hires. As Broadfield establishes itself in the US, it may influence other firms to reconsider their business models, potentially leading to broader changes in the legal industry.
